Marriott Strengthens Focus on the Caribbean and Latin America by Naming First-Ever Regional President
Recognizing the increasing importance of the Caribbean and Latin America as a destination and source market for its portfolio of hotels, Marriott International (NYSE:MAR) has named company veteran Craig S. Smith, currently vice president and chief operations officer for Asia Pacific, as its first-ever president for the Caribbean and Latin America.
Smith, who as the son of a diplomat resided in several Latin American countries, began his career with Marriott International nearly a quarter-century ago, serving as general manager of properties in Brazil, the Dominican Republic, El Salvador and Peru before spearheading the company?s expansion into Asia. He is fluent in both Spanish and Portuguese.
The year 2012 saw the opening or conversion of 8 hotels in 5 countries, among them Mexico City?s first Courtyard by Marriott brand hotel at the International airport as well as the much-anticipated JW Marriott Cusco, strategically located at the gateway to the archaeological site of Machu Picchu.
Marriott International expects to double its footprint in the Caribbean and Latin America by 2017, adding 14,000 jobs and over 70 additional properties across 10 lodging brands in 26 countries and territories.
[quote]?Latin America?s booming economy has led to an expanding middle class eager to travel to new places and do business within and outside the region, providing tremendous opportunities for Marriott’s portfolio of brands,? said Craig S. Smith, President of the Caribbean and Latin America at Marriott International.[/quote]
Entering the Caribbean and Latin America in 1990 with the openings of the 450-room Marriott CasaMagna Resort in Cancun and the 433-room Marriott CasaMagna Resort in Puerto Vallarta, both in Mexico, Marriott International is now represented in the region by 74 hotels in 25 countries and territories, offering more than 18,000 rooms and spanning nine lodging brands: The Ritz-Carlton and JW Marriott Hotels & Resorts in the luxury tier; Marriott Hotels & Resorts, Marriott International?s signature brand; Renaissance Hotels and the Autograph Collection in the lifestyle category; Courtyard by Marriott and Fairfield Inn in the moderately-priced tier; and Marriott Executive Apartments and Residence Inn by Marriott in the extended stay category. In addition, Marriott Vacation Club International, Marriott’s timeshare ownership division, offers three resorts in two countries.
Note: The statements about the numbers of new hotels and rooms we expect to add by 2017 are ?forward looking statements” within the meaning of federal securities laws, not historical facts, and are subject to a number of risks and uncertainties, including the continuation and pace of the economic recovery; supply and demand changes for hotel rooms; competitive conditions in the lodging industry; relationships with clients and property owners; the availability of capital to finance hotel growth and refurbishment; and other risk factors identified in our most recent annual report on Form 10-K; any of which could cause actual results to differ materially from those expressed in or implied by our statement. These statements are made as of the date of this press release, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
[box type=”tick”]About Marriott International, Inc.
Marriott International, Inc. (NYSE: MAR) is a leading lodging company based in Bethesda, Maryland, USA with more than 3,700 properties in 74 countries and territories and reported revenues of over $12 billion in fiscal year 2011. The company operates and franchises hotels and licenses vacation ownership resorts under 18 brands, including Marriott Hotels & Resorts, The Ritz-Carlton, JW Marriott, Bulgari, EDITION, Renaissance, Gaylord Hotels, Autograph Collection, AC Hotels by Marriott, Courtyard, Fairfield Inn & Suites, SpringHill Suites, Residence Inn, TownePlace Suites, Marriott Executive Apartments, Marriott Vacation Club, Grand Residences by Marriott, and The Ritz-Carlton Destination Club. There are approximately 300,000 employees at headquarters, managed and franchised properties. Marriott is consistently recognized as a top employer and for its superior business operations, which it conducts based on five core values: put people first, pursue excellence, embrace change, act with integrity, and serve our world.[/box]?